|Marketing expenditures||Amount ($)|
Measuring the success of marketing
To be successful, advertisements should carry messages that are appealing customers when they want to buy and the kind of media that will be used for the advertisement. As an entrepreneur, you should know that the main ingredients in the advertisement should be the customer problem-solving elements in the advert. That is; the type promotional technique should aim at solving the problem of the customer. Through advertising the second-hand books online I will be able to sell the book at reduced prices through careful maintenance of efficiency in the operations of the business and by aiming specific market segments (students) especially those who pay for the second-hand book themselves.
By focusing on this segment the business will avoid inefficiencies and operational disruptions that are characterized by unsteady cash-flows and hence eliminate supply shortages. I believe that through this marketing campaign, the business will have advancement in realizing its goals. A good marketing strategy is never good enough unless it delivers profitable results. I will evaluate the success of this marketing campaign in several ways. The success of any business depends on the number of customers. Because this is an online business, a proper marketing strategy will be a great determinant of the success of the business through how it appeals to the customer mass.
Therefore, I will evaluate the success of this marketing campaign first by checking how it has managed to increase the number of customers to the business. Secondly, I would evaluate the success of the marketing strategy through an increase in sales. The more sales the business will realize the more successful will be the advertisement strategy. Finally, I would measure the success of the marketing strategy through its effect on the SWOT analysis. If the advert improves the strength and opportunities of the business then I would consider it successful. However, if the advert increases the threats and weakness of the business then I would consider the advert unsuccessful.
Future promotional plans
The mission statement of this business is to provide students with second-hand books at the best affordable prices at their convenience. Our convenience and services will exceed the expectations of our customers. The fundamental keys to success by this business include;
- The satisfaction of the customers so that they are always motivated to come again.
- To ensure that the overhead costs and operating costs are maintained as low as possible.
- To provide effective prices that will be affordable to the customers and a cost-sales competitive tool against the other players in the industry.
Second hands books have advanced to be the main source of an academic library for middle-class students. This is because of their affordability and availability to most people and most specifically the students’ body. Entrepreneurship is fast growing and selling second-hand books is can be a good business to start with. Selling second-hand books have gone a notch higher that have prompted us to develop an online website that mainly focuses on the sale of second-hand textbooks. Mostly the target customers are tertiary education students throughout the nation.
As the same time, these students act as the main suppliers in terms of supplying the second-hand textbooks through the developed website. Generally, the concept is a scheme originating from trade me, but for these books to be used by no one else but the country’s tertiary students. The assertion of this marketing concept is to give the informal method of selling books on campus through notice boards a more commercial outlook. It is a fact worth noting that selling second-hand books online is a fast-growing business.
Therefore, I am confident that with the adoption of this marketing strategy, the of selling second-hand products business will definitely grow and expand. Currently, the business main customers are those students staying in Auckland. But as the business will be growing, there would be plans to expand to New Zealand. Covering the whole of New Zealand will improve the customer base and subsequently increasing the sales to the business. This will give the business a competitive edge over the competitors.
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